I am currently short stock at 33.24 average and have added a July 35/30 Put Ratio.
– DM 8:40 AM CST
I have a position in the Submarine Basket for $PBYI. Here are the details:
I owned the June 05w/September 180/225 Diagonal Call Calendar
This takes margin
On 6/1 I StC the June 05w $180 Calls for a $9.50 credit
By selling the $180 Calls I was left with the short September $225 Calls. I set a Buy Stop at $185 on 6/1. I lowered the Buy Stop to $150 on 6/3. I lowered the Buy Stop to $138 on 6/8.
It seems that I’ve missed a real opportunity to capture the DOWNSIDE move:
What is challenging with trading a basket of stocks is when you have one criteria for entry: pullback to Support. What happened here is I was positioned for an UP move and although I was able to sell the long Calls for a gain – I missed the REAL opportunity in the $70 move down from $200. I was too focused on the short Calls and kept lowering my Buy Stop. I should have also had a Sell Short Stop (which I do often).
Reminder: you can view the Positions tab to review a list of current positions in all personal accounts.
Here is a Summary from my Trading Journal for the Swing, Long-term, and IRA accounts:
I keep a list of the Fab 5 ($100 Roll) positions here on the Blog but I thought I would give a quick review of how each position looks right now:
DirecTV $DTV I am long the June $94 Calls. Options Net is -$.30 so the Risk is well-defined (what I paid for the Calls)
MasterCard $MA I am long stock at $92 with short June 12w $93 Calls (covered calls) so I will need to tend to these by next week Friday expiration. Options Net: $2.14
PNC Financial $PNC I am long stock at $92.40 with short June $95 Calls (covered calls) so this trade has a “cap” to it right now ($96.46). Options Net is $1.46
Workday $WDAY I own the July 85/87.5 Call Spread and short the September $85 Puts. I am short stock at $89.28 as a hedge for the short Puts. Options Net: $1.90
Yum! Brands I am long stock at $91.26 with short June 05w $92 Calls (covered calls) so I will need to tend to this before Friday eod. Options Net: $2.25
The above takes you to the Finviz website where you can review the technical and fundamental data of the key public Railroad companies. Most have been in a severe decline but several are hitting Support levels right now.
Time to board?
I exited a large % of the Earnings trades this week (usually the design when using monthly options). I performed a post-trade review – the usual practice – and here is a brief look at the performance of the exited trades: